case study: market acceptance for a premium stenting device
DESCRIPTION
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USA502 Mace Blvd, Suite 15Davis, CA 95618United StatesTele: (+1) 530-792-8400
BACKGROUND
CHALLENGE
IMPACT
A well-known stent device manufacturer sought to test the market need and acceptance for a premium device incorporating unique features in Germany, Italy, and the U.S. Through the device’s unique design, its features could potentially address current unmet clinical needs in the stent market.
In addition, the Client also wanted to know how potential users converted enhanced product attributes into potential clinical benefits, price elasticity based on the availability of this new premium product, and the optimal market positioning strategy.
The Client sought both descriptive data about the market and data relating product attributes to customer preference and choice. This objective necessitated using a mixed methodology of qualitative and quantitative research.
Designing the study involved accurately representing current stent offerings in terms of base material (plastic of metal), the types and extent of coating available, methods of placement (endoscopic/percutaneous), and stent delivery systems (catheter). In addition, presumed feature performance related to anti-migration, tissue ingrowth resistance, long-term patency, and stent removability/replacement had to be described as a precursor to measuring user preference and choice.
Because of the need to understand market dynamics, the qualitative research design focused on the relevant clinical pathway – patient referrals, treatment options, follow-up patterns, etc. In short, the knowledge, attitudes, and practices (KAP) of the relevant clinicians needed to be thoroughly explored.
SOLUTIONThe MarkeTech Group (TMTG) suggested a two-phase study to address the goals of the Client. In the first phase, structured phone-based In-Depth Interviews (IDIs) were conducted by experienced moderators in the three countries of interest to gather the critical contextual information required. This data acted as the foundation for the survey instrument that was fielded. In the second phase, web-based surveys were administered among the three countries surveying factors such as brand preference, stent features, and price. The resulting quantitative data both provided descriptive statistics, as well as the part-worth values needed to populate TMTG’s proprietary market preference simulator, simPRO™, which allows the Client to simulate a variety of “what-if’s scenarios.
The study revealed that for this product category attributes related to stent migration, physical design, and price were the biggest drivers for choice and ultimately adoption. The study also showed that the three countries of interest each had a unique market and necessitated different marketing strategies.SimPRO™ revealed for the customer that configuring specific features would be key factors in promoting adoption.
In addition, an attribute-to-benefit mapping exercise (ABM) explained which specific benefits respondents associated with particular product attributes and provided additional insight into both how and why product choice was being influenced.
Also underscored for the Client was the need to provide high levels of clinical evidence, as well as sufficient vendor knowledge and customer support to give potential users the confidence and assurance needed to promote adoption.
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MARKET
METHODOLOGY MIX
South AmericaEurope
Qualitative ResearchStrategic Consulting
Quantitative
Asia
PROFILECLIENT TYPE
PROJECT CATEGORY
PRODUCT CREATION
LAUNCH PREPARATION
Medical DeviceMedical Imaging
Medical DiagnosticsMedical IT/eHealth
BiotechnologiesPharmaceuticals
Technology AssessmentOpportunity Analysis
Customer and Product RequirementsProduct Concept Testing
Segmentation AnalysisBrand Positioning
Packaging and Materials Testing
Go to Market PlanningPricing
PRODUCT MONITORINGCustomer Satisfaction and Loyalty
Post Launch Acceptance
MARKET RESEARCH AND PLANNINGCustom Market Analysis
Market Mix Analysis
Market Acceptance for aPremium Stenting Device
TECHNOLOGY GO / NO GO
North America